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Nest unveils strategy blueprint for retirement income

Nest, the UK government-sponsored workplace pension provider established in 2010, outlined plans on Saturday to give its nearly 2 million members steady income from a drawdown fund in the early stages of retirement, as part of a “core retirement strategy”.

Under the proposal, members building pensions in Nest’s defined contribution schemes would also receive access to a cash fund to meet ad hoc needs, as well as protected income in later life via an annuity-style product.